Mining firm Petra Diamonds said on Thursday it would raise $178 million (£133 million) from investors to cut debt after it was hobbled by a strong South African rand, delays in production, strikes and confiscation.

​Fashion search platform Lyst has confirmed a new round of financing on the part of luxury giant LVMH. While the terms weren’t disclosed, various reports put the amount both at “over” or “below” $60 million.

Christian Dior has named Charles Delapalme to be its new managing director of commercial activities. The appointment takes effect on June 15, 2018. He replaces Serge Brunschwig, who left Dior to become CEO of Fendi.

Global consumer demand for diamond jewellery hit $82 billion in 2017, up 2% from the previous year, with the US leading growth for the fourth consecutive year, according to a De Beers Group study published on Thursday.